Moongipa Finance Ltd. is a non-banking finance company providing finance to the needy people to help them initiate income generation activities so they can improve their economic condition.
MFL was acquired by one of the promoters of Disha India Micro Credit. DIMC was formed in 2008 with the aim of serving the poor women of Saharanpur and surrounding areas. DIMC is registered under Section 25 of the Companies Act. The present portfolio of DIMC is nearly ₹175 crore.
One of the funders of DIMC suggested that a non-banking finance company be formed for further improvement in operations, capital and funding.
Following this, MFL was acquired in 2021 for more responsible finance. MFL is a limited company, incorporated under the Companies Act, 1956, and registered with the Reserve Bank of India as NBFC.
- Date of Registration: 30/11/2010
- Registration No.: U74899WB1995PLC159593